Arab Banking Corporation Joins Bahrain Financial Exchange

The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, is pleased to announce that The Arab Banking Corporation (ABC), an international Universal bank, has become a Trading Member of the BFX.ABC is a leader in trade finance, treasury, project & structured finance, syndications, corporate & institutional banking as well as Islamic banking, hence the membership of the BFX will enable the bank to maximise on its trading opportunities and utilise the Exchange to manage risk and facilitate investments in a secure environment with central counterparty clearing.Mr. Amr Gadallah, Group Treasurer of ABC, commented: “As a regional leader in multi asset treasury and investment products, trade and structured finance, the Arab Banking Corporation undertakes significant trading transactions, and we are confident that this partnership with the BFX is a move forward in our efforts to maximize the opportunities made available to our portfolio of investments and brokerage. We will be providing access to the BFX markets for all our group companies thus utilising the maximum benefits of partnering with such an innovative and diversified Exchange like the BFX.” Commenting on the occasion, Mr. Arshad Khan, Managing Director and Chief Executive Officer of the BFX and the BFX Clearing and Depository Corporation (BCDC), said: “We are pleased to announce the signing of the membership agreement with the Arab Banking Corporation as a Trading Member. Following the successful commencement of the BFX conventional division in November 2011, this partnership consolidates our position in the market as the sole pioneering and innovative multi-asset Exchange. With members like the ABC, we will be able to spread the reach of our market across the MENA region offering attractive internationally renowned products that fill the gaps that currently exist in the regional financial markets. The volumes on our conventional segment are growing steadily since our launch and with the participation from financial institutions like the ABC, the volumes will grow further.”The BFX membership is offered in four categories, allowing different levels of access to the market depending on the level of participation required by the financial institution and its clients. The membership categories are: Trading and Clearing Member, Trading Member, Clearing Member and Authorised Remote Member. The products that are currently listed on the BFX for trading are Gold Futures, Euro-US Dollar Futures and Natural Gas Futures. The BFX will be adding additional products from Equity Index, Commodities and Currencies basket in the near future.